OraSure Technologies Inc. develops, manufactures and distributes point-of-need and home diagnostic tests, along with sample collection and stabilization products used in healthcare and research settings. Its portfolio includes rapid diagnostic tests and sample management solutions sold to clinical laboratories, hospitals, physicians' offices, clinics, public health and community organizations, research institutions, government agencies, pharmaceutical companies and consumers.
OraSure news commonly covers quarterly results, manufacturing efficiency, product regulatory updates, commercial launches, research and development priorities, and capital allocation. Company updates also address subsidiaries including DNA Genotek, Sherlock Biosciences and BioMedomics, products such as OraQuick HIV self-testing and Colli-Pee urine collection, and governance matters involving board composition and shareholder engagement.
OraSure Technologies, Inc. (NASDAQ: OSUR) announced that Dr. Stephen S. Tang, President and CEO, will participate in a fireside chat at the UBS Global Healthcare Virtual Conference on May 26, 2021, at 2:00 PM EDT. The event will be webcast live, and a replay will be available for 14 days on OraSure's website. OraSure is known for its point-of-care diagnostic tests and specimen collection devices, playing a significant role in global health through its subsidiaries that offer a range of diagnostics and services.
OraSure Technologies, Inc. (NASDAQ: OSUR) has appointed Scott Gleason as the new Senior Vice President of Investor Relations and Corporate Communications. Gleason brings over 20 years of experience, including his previous role at Myriad Genetics, where he led investor relations and corporate strategy. His background also includes a tenure as a senior analyst at Stephens, Inc. and service as an Air Force aircraft maintenance officer. This leadership change is expected to enhance OraSure's ability to address health challenges globally, according to President and CEO Stephen S. Tang.
OraSure Technologies, Inc. (NASDAQ: OSUR) announced its 2021 Annual Meeting of Stockholders will take place virtually on May 18, 2021, at 10:00 a.m. Eastern. Stockholders can log in via www.virtualshareholdermeeting.com/OSUR2021 using their control number. A replay of the event will be available within 24 hours and archived for seven days. OraSure Technologies focuses on improving global health through diagnostics and sample collection solutions.
OraSure Technologies (NASDAQ: OSUR) has partnered with Insignia Federal Group and others to distribute 100,000 free HIV self-test kits through a CDC initiative. These OraQuick In-Home HIV Tests provide rapid results using an oral swab and help increase testing accessibility, especially in vulnerable communities. The program aims to combat the HIV epidemic by enabling individuals to know their status, with distribution beginning in 2021 and continuing until all kits are delivered. The venture aligns with the CDC's efforts to enhance testing rates among at-risk populations.
OraSure Technologies reported a robust first quarter of 2021, achieving net revenues of $58.6 million, up 85% year-over-year. This growth was significantly driven by $27.4 million from sales of COVID-19 molecular testing sample collection devices. The company has submitted an EUA application for its COVID-19 rapid antigen test for both home and professional use. The net income for the quarter stood at $3.8 million, marking a notable turnaround from a loss of $7.3 million in the previous year. Operating expenses rose to $27.9 million, but the company is poised for continued growth amid ongoing demand for COVID-19 testing products.
OraSure Technologies, Inc. (NASDAQ: OSUR) has scheduled its earnings conference call for the first quarter of 2021 on May 5, 2021, at 5:00 PM ET. The press release detailing financial results will be distributed at 4:01 PM ET the same day. Participants can join the call by dialing 844-831-3030 for domestic or 315-625-6887 for international calls, using Conference ID # 1349536. A webcast will also be available on the company's Investor Relations website. For those unable to attend the live call, a replay will be provided for 14 days.
OraSure Technologies, Inc. (NASDAQ: OSUR) reported 2020 net revenues of $171.7 million, an 11% increase year-over-year, driven by $49.8 million in sales of COVID-19 molecular testing devices. The fourth quarter net revenues rose 27% to $62.9 million, reflecting strong demand for molecular sample collection kits. The company is moving forward with Emergency Use Authorization (EUA) submissions for its COVID-19 Rapid Antigen Self-Test. In terms of profitability, fourth quarter net income was $1.9 million or $0.03 per share.
OraSure Technologies, Inc. (NASDAQ: OSUR) announced that Dr. Stephen S. Tang, President and CEO, will present at the Raymond James 42nd Annual Institutional Investors Conference on March 3, 2021, at 10:00 AM EST. The presentation will be webcast live, allowing investors to tune in via the OraSure website. A replay will be available for 14 days post-event. OraSure provides point-of-care diagnostic tests and specimen collection solutions, aiming to enhance global health through accurate information.
OraSure Technologies (NASDAQ: OSUR) will hold its earnings conference call to discuss the 2020 fourth quarter financial results on March 1, 2021, at 5:00 PM ET. A press release detailing the financial results will be distributed at 4:01 PM ET, followed by the call at 5:00 PM ET. Investors can access the call via phone or webcast on OraSure’s investor relations page. A replay will be available shortly after the call and for 14 days via the specified phone numbers. For queries, contact Sam Martin at Argot Partners.
OraSure Technologies (NASDAQ: OSUR) announced that its OMNIgene®·ORAL saliva collection kit received Emergency Use Authorization (EUA) from the FDA for use in COVID-19 testing by Ambry Genetics. This marks the eighth EUA involving a self-collection device from its subsidiary DNA Genotek. The kit allows for non-invasive saliva collection, enhancing testing accessibility and reducing exposure risks. Kathleen Weber, from DNA Genotek, expressed pride in this achievement, highlighting the increased access and safety offered by their self-collection devices.